TL;DR
Ripple has contested the SEC’s request for a $2 billion fine related to XRP sales, asserting that most transactions were lawful and informed, proposing a maximum penalty of $10 million instead.
The case is progressing to a critical trial that could impact XRP’s price and the wider cryptocurrency market.
Ripple Opposes the SEC’s Multi-Billion Request
The legal spat between Ripple and the United States Securities and Exchange Commission (SEC) is heating up, with numerous actions coming from both parties. Nearly a month ago, the regulator sought a $2 billion fine on the company, alleging XRP sales violations.
Ripple’s management team, including CEO Brad Garlinghouse and CLO Stuart Alderoty, did not welcome the proposal with open arms, arguing that the SEC “trades in statements that are false, mischaracterized, and designed to mislead.”
Alderoty recently revealed that Ripple filed its opposition to the agency, claiming the firm remains “confident” that the magistr
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